Stonebrook Private Inc. Purchases 133 Shares of Salesforce Inc. (NYSE:CRM)

Stonebrook Private Inc. grew its position in Salesforce Inc. (NYSE:CRM) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,342 shares of the CRM provider’s stock after buying an additional 133 shares during the period. Stonebrook Private Inc.’s holdings in Salesforce were worth $1,434,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CRM. Norges Bank purchased a new position in shares of Salesforce in the fourth quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after buying an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Salesforce by 30,456.9% in the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock worth $1,020,194,000 after buying an additional 3,789,147 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $270.82, for a total value of $609,345.00. Following the sale, the chief executive officer directly owned 11,862,457 shares of the company’s stock, valued at approximately $3,212,590,604.74. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Miguel Milano sold 405 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at approximately $2,605,922.55. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,034 shares of company stock worth $8,833,235. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $271.10 on Thursday. The firm’s 50 day moving average price is $272.54 and its 200-day moving average price is $290.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The firm has a market cap of $259.17 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.48 and a beta of 1.36.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the business posted $2.44 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. Mizuho reduced their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Oppenheimer reissued an “outperform” rating and set a $370.00 target price on shares of Salesforce in a report on Tuesday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $325.00 target price on shares of Salesforce in a report on Thursday, June 26th. Citigroup reduced their target price on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $349.08.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.